Bindable Joins Guidewire PartnerConnect Program; Releases First Partner-developed Guidewire GO Product

Rhea-AI Summary

Guidewire (NYSE: GWRE) announced that Bindable™ has become a Guidewire PartnerConnect Solution partner and released the GO Product, integrating Guidewire Cloud and Bindable’s alternative distribution platform. This enables insurers to rapidly offer their products through Bindable’s extensive partner network, reaching new audiences and increasing agility.

Positive

• Bindable has become a Guidewire PartnerConnect Solution partner, expanding distribution for insurers through relevant partnerships.
• The GO product allows insurers to quickly launch a Personal Auto product, tailor it to fit their specific business needs, and distribute it rapidly to new customers through Bindable and its extensive partner network.
• The GO product provides a tried-and-true base for new products and LOBs, enabling insurers to innovate and grow their businesses faster.

Negative

• None.

Bindable’s Guidewire GO product will enable insurers to grow their business through partnerships and embedded channels

SAN MATEO, Calif. & BOSTON--(BUSINESS WIRE)-- Guidewire (NYSE: GWRE) announced that Bindable™ has become a Guidewire PartnerConnect Solution partner, and that Bindable’s new Guidewire GO Product is now available to PolicyCenter Cloud users in the Guidewire Marketplace. Bindable is the second Insurtech Vanguard to become a Guidewire PartnerConnect Solution partner and the first partner to develop a GO Product with Guidewire. The GO product by Bindable integrates Guidewire Cloud and Bindable’s alternative distribution platform.

In a hardening market, it’s more important than ever for carriers to develop alternative sales channels to connect with preferred customers. To help keep pace with the evolving insurance landscape, McKinsey urges insurers to expand their distribution through relevant partnerships. With Bindable’s insurance exchange, insurers of all sizes can rapidly and seamlessly offer their products through the digital experiences of Bindable’s more than 500 affinity partners and nationally trusted brands, giving them unique access to new audiences.

With GO USA Personal Auto by Bindable, insurers can:

• Quickly launch a Personal Auto product using the Advanced Product Designer mindmap and pre-defined product template;
• Tailor the product to fit their specific business needs;
• Distribute the product rapidly to new customers through Bindable and its extensive partner network; and
• Create virtual agencies to cross-sell products they don’t manufacture themselves

Guidewire GO Products are prepackaged collections of product model content available to download from the Guidewire Marketplace. They provide a Guidewire-approved and tested baseline for a new product or line-of-business (LOB), increasing insurer agility.

“Consumer preferences have increasingly gravitated towards digital experiences, with a particular focus on convenience,” said Bill Suneson, Co-founder & CEO, Bindable. “This shift has accelerated the need for insurers to quickly transform their strategies to meet customers across channels and provide them with the protection products they want, even if the products are not the insurer’s own. Insurers who leverage the Bindable Guidewire GO product to embed offers within the customer experiences of adjacencies and trusted brands will have an enormous competitive advantage in reaching preferred markets.”

“Congratulations to Bindable on the release of the first ever Guidewire GO product developed by a partner,” said Eugene Lee, Senior Vice President and General Manager, InsuranceSuite, Guidewire. “We created Guidewire GO content to provide our customers with a tried-and-true base for new products and LOBs, enabling them to innovate and grow their businesses faster. With Bindable’s GO product, our shared customers can easily distribute their products to potentially millions of more customers directly in their existing digital journeys.”

About Bindable™

Bindable is the InsurTech leader for alternative distribution solutions, enabling organizations to drive revenue and build loyalty through digital insurance. Bindable’s platform provides a digital insurance marketplace, agent software, and a suite of support services for insurers, agencies, brokerages, and trusted brands alike. To learn more about Bindable, please visit www.bindable.com and connect on LinkedIn, Twitter, and Instagram.

About Guidewire PartnerConnect and Ready for Guidewire

Guidewire PartnerConnect is designed to help Property and Casualty (P&C) insurance companies revolutionize their operations by connecting them with the largest peer network in the industry. Today, insurers can access over 200 integrations developed for the Guidewire Marketplace that have been validated for security, quality, and compatibility. The Guidewire Marketplace comprises an ecosystem of powerful yet user-friendly solutions that scale for improved customer experiences.

For more information, please visit the Guidewire Marketplace.

About Guidewire Software

Guidewire is the platform P&C insurers trust to engage, innovate, and grow efficiently. We combine digital, core, analytics, and machine learning to deliver our platform as a cloud service. More than 500 insurers in 38 countries, from new ventures to the largest and most complex in the world, run on Guidewire.

As a partner to our customers, we continually evolve to enable their success. We are proud of our unparalleled implementation track record, with 1,000+ successful projects, supported by the largest R&D team and partner ecosystem in the industry. Our marketplace provides hundreds of applications that accelerate integration, localization, and innovation.

For more information, please visit www.guidewire.com and follow us on Twitter and LinkedIn.

NOTE: For information about Guidewire’s trademarks, visit https://www.guidewire.com/legal-notices.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230809727431/en/

Melissa Cobb

Senior Public Relations Manager

Guidewire Software, Inc.

+1.650.357.5324

mcobb@guidewire.com

Mary Clare Riordan

Director of Marketing

Bindable

781-724-7258

mcriordan@bindable.com

Source: Guidewire Software

FAQ

What is the significance of Bindable becoming a Guidewire PartnerConnect Solution partner?

Bindable's partnership with Guidewire expands distribution for insurers through relevant partnerships, providing access to new audiences and increasing agility.

What are the key features of the GO USA Personal Auto by Bindable?

The GO USA Personal Auto product allows insurers to quickly launch, tailor, and distribute their products through Bindable's extensive partner network.

How does the GO product benefit insurers?

The GO product provides a tried-and-true base for new products and LOBs, enabling insurers to innovate and grow their businesses faster.

What is the impact of the GO Product on insurers' ability to reach new audiences?

The GO Product enables insurers to rapidly offer their products through Bindable’s extensive partner network, reaching new audiences and increasing agility.